Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,255,000
Medical Office Space
15850 35th Ave Phoenix, AZ 85053-3885
Individually Owned
26-yr Hold
Free & Clear
Property ID
US07-1325886
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1988
Construction
CONCRETE
Total area
3,206 SF
Lot
0.6 ac (26,255 SF)
Zoning code
C-1
APN
207-15-019B
UPID
US07-1325886
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Farmers Insurance - Ashur Warda Insurance Agency
-
Ouellet & Lynch- Independent- Jewelry and Watch Valuations- Since 1987 Jewelry Appraiser Consultant
-
Hair EffecarSaccidenlon Hair Salon
-
Sunburst Dental Care Dental Office
-
Klingert Chiropractic Center Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.26M
Blend (final)
Blend
$1.26M
Owner & transaction history
Clark M Thomas · 26 yrs held
Clark M Thomas
since 1999
2 recorded transactions
Zoning & alternative use
C-1 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.4M
+59.2%
Office building
$960,000
+13.1%
Retail stores
$955,000
+12.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Phoenix submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Phoenix submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$850,000
Current use
AUTO REPAIR, GARAGE
$1,355,000
Change: +59% · Conversion: Difficult
OFFICE BUILDING
$960,000
Change: +13% · Conversion: Easy
RETAIL STORES
$955,000
Change: +12% · Conversion: Difficult
WAREHOUSE, STORAGE
$830,000
Change: -2% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$815,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$1.26M
Range $1.13M – $1.38M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$391 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$15,649
Tax year 2023
Assessed value
$164,442
Assessed 2024
Previous assessed
$140,709
+16.9% YoY
Effective rate
9.52%
On assessed value
Land market value
$311,000
Improvement market value
$685,616
Total market value
$996,616
Applied tax rate
61,300.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1988
Construction
CONCRETE
Heating
HEAT PUMP
Buildings
2
Stories
1
Units
2
Total area
3,206 SF
Lot
0.6 ac (26,255 SF)
Zoning code
C-1
APN
207-15-019B
UPID
US07-1325886
Jurisdiction
MARICOPA
Zoning & alternative use
C-1 · Phoenix, AZ
Zoning C-1 · permitted uses
C-1 · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Phoenix. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$850,000
AUTO REPAIR, GARAGE
Est. value
$1.4M
OFFICE BUILDING
Est. value
$960,000
RETAIL STORES
Est. value
$955,000
WAREHOUSE, STORAGE
Est. value
$830,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$815,000
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1988
Construction
CONCRETE
Heating
HEAT PUMP
Stories
1
Buildings
2
Units
2
Lot
0.6 ac
Current owner
From public records · entity-resolved
Clark M Thomas
Individual
Free & Clear · 26 yrs held
Mailing address
912 E GRANDVIEW RD, PHOENIX, AZ 85022-2623
Ownership since
1999
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 2, 1999
—
Clark M Thomas
Thomas,clark M
Quit Claim Deed
related
—
Feb 19, 1988
$230,000
Clark M Thomas
—
Deed Of Trust
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 15850 35th Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
